Arlington Heights tax consultant makes sure clients pay only fair share
Interview with Terrence Ennes
Q. Describe your business. What do you do?
A. E&A is a national property tax consulting firm. Whether you own, lease or are buying or selling a property you will be affected by property taxes. Our business goal it to make sure you are paying only your fair and equitable share of those taxes. We do this by actively reviewing and managing the property taxes of our clients. These clients range from other small business owners with one property to large multistate corporations.
Q. What made you start your business?
A. My employer at the time was going through a LBO which ended up affording me an opportunity to start Ennes & Associates in partnership with a co-worker Carl Pharr. Several of the divested operating units became our first clients. Since then, most of our growth has been via word-of-mouth.
Q. What has been the most difficult obstacle in running or starting a small business?
A. Building and maintaining a client base has been a challenge. We have stiff competition from the big accounting and property tax firms. We have had to offer better service, stronger relationships and stellar results to compete.
Q. What do you enjoy most about your business?
A. That has to be negotiating a successful property tax appeal which involves getting an assessor to agree to a reduction and then reporting the tax savings to our clients. There is a sense of accomplishment from that which is hard to describe. I still remember the first appeal I settled in a rural town in Indiana.
Q. Is this what you pictured yourself doing when you were young? When you were young, what did you want to be when you grew up?
A. Not at all! When I was young I wanted to be a fireman ... no, a fisherman … no, a race car driver … funny where life takes you!
Q. What keeps you up at night?
A. Uncertainty. Unexpected changes like a competitor stealing a client or losing a key employee. When you have a staff, your responsibility becomes greater … your stress level higher … your sleep less. I no longer need an alarm clock.
Q. If you could give one tip to a rookie business owner, what would it be?
A. Really I have three. One, know the business you are getting into. Two, have an adequate operating reserve and three always remember that your staff is your biggest asset take time to hire right, train thoroughly and reward generously.
Q. What do you enjoy doing in your free time?
A. What free time? I do like to try and cellar good wines. I try golfing and really enjoy spending time with friends and family.
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Ennes & Associates Inc.
Address: 3275 N. Arlington Heights Road, Suite 410, Arlington Heights
Owners: Terrence Ennes, Carl Pharr
Year started: 1989